A stronger long-term orientation is considered a competitive advantage of family firms relative to non-family firms. In this study, we use panel data of U.S. firms and analyze this proposition. Our findings are surprising. Only in when the family is involved in the management of the firm is the...

In this paper, we provide an outlook for further research on the topic of governance. We review four different approaches on the theory of the firm and discuss implications for governance, namely; nexus of contracts / agency theory, property rights / incomplete contracts, adaption, and nexus of...

We analyze the optimal combination of promotion tournaments and individual performance pay in an employment relationship. An agent's effort is non-observable and he has private information about his suitability for promotion. We find that the principal does not provide individual incentives if...

Private banks often blame state guarantees to distort competition by giving public banks the advantage of lower funding costs. In this paper I show that if borrowers perceive the public bank as supporting economic development, private banks may be able to separate firms by self selection, enter...

This paper examines the relationship between family ownership and firm performance over the period 2009-2017 for a large sample of French-listed firms. Previous research showed that family ownership can bring both benefits and costs to firms. Empirical results in whether it enhances or...

Despite the long history of testing agency theory, it is yet standing undefeated. This study examines the relationship between capital structure and firm performance in an emerging economy, Iraq. Moreover, it seeks to find an answer for the question "does agency cost moderates the relationship...

Although scholars and practitioners are recently showing a growing interest in integrated reporting, investigating the variables affecting the integrated reporting quality in Malaysia has not been examined and is still unexplored. This paper aims to fill this gap, by exploring the influence of...

This study attempts to provide empirical evidence on the real motivation of CEOs to engage in corporate social responsibility. Based on the Agency and Stakeholder theories, the power of each component in the CEO compensation structure is employed. Moreover, a corporate governance index was...

This study examines the impact of managerial ownership on audit fees in a context of concentrated ownership and poor investor protection. Using samples of Portuguese and Spanish listed companies for the period 2010-2021, the results of this research suggest that there is a non-linear...

The article was conducted to evaluate the impact of CEO characteristics on the performance of Vietnamese commercial banks. Variables representing the performance of commercial banks are return on total assets (ROA) and return on equity (ROE). Data was collected from 30 Vietnamese commercial...